Guarantees and Other Commitments (Tables)

9 Months Ended

Sep. 30, 2024

Guarantees [Abstract]

Guarantees – Carrying Value and Maximum Exposure to Loss

Table 14.1 shows carrying value and maximum exposure to loss on our guarantees.

Table 14.1: Guarantees – Carrying Value and Maximum Exposure to Loss

			Maximum exposure to loss
(in millions)	Carrying value of obligation		Expires in one year or less	Expires after one year through three years	Expires after three years through five years	Expires after five years	Total	Non-investment grade
September 30, 2024
Standby letters of credit (1)	$	92	15,165	4,997	2,188	13	22,363	7,837
Direct pay letters of credit (1)	6		1,746	1,382	56	118	3,302	782
Loans and LHFS sold with recourse	88		453	3,169	3,943	6,314	13,879	10,827
Exchange and clearing house guarantees	—		33,446	—	—	—	33,446	—
Other guarantees and indemnifications	33		1,609	522	78	498	2,707	973
Total guarantees	$	219	52,419	10,070	6,265	6,943	75,697	20,419
December 31, 2023
Standby letters of credit (1)	$	90	14,211	5,209	2,931	105	22,456	7,711
Direct pay letters of credit (1)	8		1,446	2,268	247	5	3,966	957
Loans and LHFS sold with recourse	72		249	2,957	3,385	7,228	13,819	10,612
Exchange and clearing house guarantees	—		13,550	—	—	—	13,550	—
Other guarantees and indemnifications	22		687	854	116	463	2,120	634
Total guarantees	$	192	30,143	11,288	6,679	7,801	55,911	19,914

(1)Standby and direct pay letters of credit are reported net of syndications and participations.